If a Firm's Sales Are $6 Million,its Fixed Costs Are

question 25

Short Answer

If a firm's sales are $6 million,its fixed costs are $7 million,and its variable costs are $4 million,what does it do in the (a)short run and (b)long run?

---

Definitions:

Government Programs

Initiatives and services provided by the governmental bodies designed to meet public needs, including welfare, healthcare, and infrastructure projects.

Regulations

Rules or directives made and maintained by an authority, designed to control or govern conduct within specific areas of activity.

Mandates

Instructions or directives given by the electorate to elected officials, or the authority granted to a government or its representatives to govern after an electoral victory.

Federal Agency

Units of the government responsible for the oversight and administration of specific functions, such as the Environmental Protection Agency or the Federal Bureau of Investigation.